Southport Acquisition Corp (NYSE:PORT) Enters Amendment Agreement with Angel Studios: What Investors Need to Know

Southport Acquisition Corporation (PORT) recently disclosed that it has entered into an Amendment No.1 to Agreement and Plan of Merger with Angel Studios, Inc. The initial Agreement and Plan of Merger between Southport, Sigma Merger Sub, Inc., and Angel Studios had been established on September 11, 2024. The Amendment Agreement, signed on February 14, 2025, brings about notable changes to the Merger Agreement.

The Amendment Agreement encompasses several key modifications, specifically removing a closing condition mentioned in a prior clause, adjusting the definitions of “Acquiror Expense Cap” and “Transaction Expenses,” as well as amending the provision concerning expense statements. While these changes are significant, the original Merger Agreement, initially filed as Exhibit 2.1, remains in full force and effect unless explicitly altered by this amendment.

The completion of the Merger Agreement is subject to various customary closing conditions, including the approval of the respective stockholders of Southport and Angel Studios, the listing approval of the Southport Class A Common Stock on notable stock exchanges, among others. It is noteworthy that Southport’s stockholders had previously approved an extension of the company’s deadline for consummating a business combination until September 30, 2025.

Investors are advised to stay informed as Southport and Angel Studios have filed a registration statement with the SEC regarding the proposed transaction on November 12, 2024. This process includes the dissemination of a preliminary prospectus and joint proxy statement. Once finalized, a joint proxy statement/prospectus will be dispatched to all Southport and Angel Studios stockholders. Further details and relevant documentation will be filed with the SEC as the transaction progresses.

It is important to note that certain forward-looking statements are included in the press release attached to the 8-K filing. These statements are made with respect to the proposed transaction and involve risks and uncertainties that could lead to actual results differing from those expressed or implied in the statements. Southport, as well as Angel Studios, urge investors to carefully consider the risks identified in their annual reports and other SEC filings.

For more information, investors are encouraged to review the full details provided in the filed documents directly. Participation in the upcoming proxy solicitations is crucial, and shareholders are advised to thoroughly assess the information before making any voting or investment decisions.

Please note that this communication does not constitute an offer or solicitation of securities and should not be considered as such within any jurisdiction. Any offering of securities should comply with the necessary legal requirements and regulations.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Southport Acquisition’s 8K filing here.

Southport Acquisition Company Profile

Southport Acquisition Corporation does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or assets. It intends to acquire businesses in the field of financial software with a focus on mortgage and real estate verticals in the United States.